"l Shana Tovah" Meaning?

President Obama recorded a greeting to Jews around the world who will celebrate Rosh Hashanah, the Jewish New Year. He said "L'shana tova, tikatevu" what does it mean?
Is it something like "have a nice holiday"?

It's a Judiasm saying.
The Jewish Holiday of Rosh Hashanah is widely known and celebrated as the New Years Day of the Jewish calendar, but actually Rosh Hashanah has a fourfold meaning - It is the Jewish New Year, the Day of Judgment, the Day of Remembrance, and the Day of Shofar Blowing.